Regulatory Reporting System

Plan administrators and other users of the Regulatory Reporting System (RRS) should review the following:

• The Private Pension Plans Division is currently reviewing options to replace our paper notification letters for late filings with email notifications. In the meantime, we encourage plan administrators to consult the Draft Returns section in RRS and immediately file any outstanding returns with OSFI. The plan administrator should contact Returns Admin or the plan’s Relationship Manager at OSFI if they determine that the returns listed in the Draft Returns section are incorrect (i.e. missing returns or returns not needed for the plan such as an Auditor’s Report).
• Plan administrators must complete the Pension Plan Annual Corporate Certification (PPACC) every year. As mentioned in the Guide to Completing the PPACC, the certification confirms that the pension plan has reviewed its Organization Profile and that the information is complete and up-to-date. In order to encourage the timely filing of this required return, the PPACC is now packaged with the Annual Information Return (i.e. one cannot be filed without the other).
• In addition to completing the PPACC, plan administrators are asked to update their authorized representatives (referred to as Local Registration Authorities (LRAs) in RRS) as needed. A pension plan must have a minimum of two LRAs. For information on how to add, edit or deactivate a LRA or other authorized RRS portal user please refer to InfoPensions 16 or refer to the Documents section after you log into RRS.
• Before submitting a plan’s Annual Information Return, plan administrators should review the membership they have reported to confirm it is correct (e.g. all “other beneficiaries” have been reported). Plan beneficiaries whose benefits are subject to provincial pension legislation must be included, even if the plan is subject to dual registration in Quebec or Newfoundland and Labrador. In addition, plan administrators must indicate the number of members that work in “included employment”. For more information, please refer to InfoPensions 15 and the instruction guide for Completing the OSFI 49 Annual Information Return and OSFI 49A Schedule A - Canada Revenue Agency Information Requirements.

OSFI is interested in any suggestions that you may have that would increase RRS’ efficiency for users. OSFI is limited in the changes it can make given the overall importance of ensuring the security of the information the system accepts. If you have any comments regarding RRS, please email OSFI at pensions@osfi-bsif.gc.ca.